I wonder what is the secret of Turkish companies entering the Egyptian market from its widest gates, and what are the incentives that the Egyptian government offers to foreign companies to operate in Egypt and expand there, and what are the latest investments? We will tell you all the details in this report, so follow us until the end.
In recent days, large Turkish companies have announced their intention to enter the Egyptian market and pumped huge investments, the most recent of which was a company specializing in a very vital and important field.
This happened when Engineer Hassan Al-Khatib, Minister of Investment and Foreign Trade, met with Emre Ercias, head of the Turkish “Ercias” company for the production of oil lines, natural gas and water pipelines.
This meeting witnessed the Turkish company’s plan to establish a factory to produce large-diameter oil, natural gas and water pipelines, with initial investments of $60 million. Hence, the Minister of Investment confirmed that the Ministry is very keen to provide all aspects of support to the Turkish company to establish and expand its project, and to export to various countries. Global markets.
Also, the Egyptian economy possesses many distinct investment components and capabilities, which include the geographical location, the logistical transport infrastructure system, the qualified workforce, the availability of renewable energy sources, and qualified ports, and this is in addition to the network of free and preferential trade agreements signed between Egypt and a large number of countries and regional and global economic blocs. .
Also, the Egyptian government aims to implement more reforms to the financial, monetary, commercial, and tax policies, and this is all to contribute to facilitating the movement of foreign trade to Egypt, attracting more local and foreign investments, and increasing Egyptian exports to foreign markets, thus reviving the internal market, trade movement, and the economy as a whole. .
Also, the Egyptian government is now seeking to make Egypt a regional center for exports, and this is because of the fact that Egypt enjoys a distinguished geographical location that attracts investment, especially since the Egyptian market enjoys many advantages and components, such as the availability of trained and qualified workers to keep pace with the global labor market and with competitive wages, as well as engineering personnel. Distinguished, meaning the market is ready and has all the ingredients to receive any foreign investments and bet on their success.
For this reason, Emre Ercias, director of the Turkish company, confirmed that the measures taken by the Egyptian government are excellent and aim to attract more foreign investments and companies. He also confirmed that the Egyptian market enjoys distinct investment opportunities and components.
He also said that Erciyas has very extensive experience in the field of high-strength oil and gas pipeline projects in various countries of the world, and that it plans to establish a factory in Egypt to produce high-pressure oil, gas and water pipelines with diameters between 2-3 meters, with investments of 60 million. One million dollars, and not only that, the company also aims to achieve a return on investments of about 200 million dollars, by exporting 60% of production to foreign markets, and 40% to the Egyptian market alone.
These words are very excellent, and a positive indicator for all investors in the world that the Egyptian market is a promising market, and is strongly capable of absorbing foreign capital, developing it as well, and achieving gains in the billions of dollars. This is also in addition to the facilities that the government provides to foreign investors and other local investors, and all these measures contribute significantly. He is great at reviving the Egyptian economy, so after a few years we will see Egypt in a completely different place.
